Jaffetilchin Investment Partners LLC Purchases New Position in LogMein, Inc. (LOGM)
Jaffetilchin Investment Partners LLC purchased a new position in LogMein, Inc. (NASDAQ:LOGM) during the second quarter, Holdings Channel reports. The fund purchased 2,802 shares of the software maker’s stock, valued at approximately $293,000.
Several other hedge funds also recently made changes to their positions in the company. Elliott Management Corp bought a new stake in shares of LogMein during the first quarter worth $118,804,000. Teachers Advisors LLC boosted its stake in shares of LogMein by 48.6% in the first quarter. Teachers Advisors LLC now owns 348,029 shares of the software maker’s stock worth $33,933,000 after buying an additional 113,746 shares during the last quarter. Weiss Multi Strategy Advisers LLC bought a new stake in shares of LogMein during the first quarter worth $1,951,000. Massachusetts Financial Services Co. MA boosted its stake in shares of LogMein by 155.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,597,788 shares of the software maker’s stock worth $155,784,000 after buying an additional 972,980 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of LogMein by 124.1% in the first quarter. Morgan Stanley now owns 299,157 shares of the software maker’s stock worth $29,167,000 after buying an additional 165,648 shares during the last quarter. Institutional investors and hedge funds own 97.39% of the company’s stock.
Shares of LogMein, Inc. (NASDAQ LOGM) opened at 117.70 on Thursday. The firm’s market capitalization is $6.21 billion. The company has a 50-day moving average price of $111.89 and a 200 day moving average price of $106.60. LogMein, Inc. has a 52-week low of $79.63 and a 52-week high of $123.95.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.08. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The firm had revenue of $266.95 million during the quarter, compared to analysts’ expectations of $264.95 million. During the same quarter in the previous year, the company posted $0.49 EPS. LogMein’s revenue was up 220.6% on a year-over-year basis. Analysts expect that LogMein, Inc. will post $4.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Wednesday, August 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Monday, August 7th. LogMein’s dividend payout ratio (DPR) is presently -909.01%.
A number of analysts have recently weighed in on LOGM shares. KeyCorp upgraded LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a research report on Friday, July 28th. Zacks Investment Research cut LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. BidaskClub upgraded LogMein from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Cowen and Company increased their price target on LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, Vetr cut LogMein from a “hold” rating to a “sell” rating and set a $101.67 price target on the stock. in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. LogMein has an average rating of “Buy” and an average target price of $127.74.
In related news, CEO William Raymond Wagner sold 4,588 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $116.30, for a total value of $533,584.40. Following the completion of the transaction, the chief executive officer now owns 69,542 shares in the company, valued at approximately $8,087,734.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James Lok sold 960 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $111.00, for a total transaction of $106,560.00. Following the completion of the transaction, the senior vice president now owns 2,109 shares of the company’s stock, valued at approximately $234,099. The disclosure for this sale can be found here. Insiders sold a total of 116,860 shares of company stock valued at $13,258,245 in the last 90 days. 2.50% of the stock is currently owned by corporate insiders.
LogMein Company Profile
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
Want to see what other hedge funds are holding LOGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LogMein, Inc. (NASDAQ:LOGM).
Receive News & Ratings for LogMein Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMein Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.